With Ron Artest, left, no longer in the mix, the Rockets signed Trevor Ariza Thursday night.

While Ron Artest headed to Los Angeles and a chance to win a championship, Trevor Ariza, the small forward with a key hand in the most recent title run, agreed to join the Rockets to replace him.

Ariza accepted the Rockets’ offer of a five-year, mid-level exception deal late Thursday, expected to be worth roughly $33 million, an individual with knowledge of the deal said. Players may sign free agent contracts beginning July 8.

The Lakers on Wednesday offered Ariza, 24, a contract similar to the mid-level exception he accepted from the Rockets, but well short of the deal he reportedly was seeking. Ariza, a 6-8 forward, averaged 8.9 points and 4.3 rebounds last season, his fifth season after one season at UCLA.

Though long a top-level small forward athletically, Ariza’s stock shot up as his shooting range and touch improved. He averaged 11.3 points in the playoffs, making 49.7 of his shots and 47.6 percent of his 3-pointers, making several game-changing defensive plays during the Lakers’ Western Conference Finals series with the Nuggets.

Ariza, chosen by the New York Knicks in the second round of the 2004 NBA Draft, was traded to the Orlando Magic for former Rockets guard Steve Francis, and to the Lakers for current Rockets forward Brian Cook, starting 20 games in the regular-season this season but all 23 of the Lakers’ post-season games.

After Ariza turned down the Lakers’ contract offer on Wednesday, Artest quickly grabbed it Thursday afternoon, going from spending much of the post-season playing against the Lakers or watching them from courtside at Staples Center to joining them.

With the Rockets looking elsewhere, Artest had considered overtures from the Cavaliers before choosing Thursday to join the Lakers, the team that eliminated the Rockets in seven games in the Western Conference semifinals. Artest accepted a three-year, mid-level deal in Los Angeles, where he has spent much of the off-season and had received recruiting efforts from former AAU teammate Lamar Odom.

"I am very excited to finally be going to LA," Artest said. "For years now, the Lakers have expressed interest in having me play for them, but we could never get the stars to align. I’m finally a Laker and I can’t wait to get on the court with Kobe (Bryant), Pau (Gasol) and the rest of the team, and play for Phil (Jackson.)

"The Lakers really made me feel wanted. I had a great talk today with Phil. I’m a huge fan of his and I can’t wait to show him what I can do. I also spoke with Magic Johnson last night. In addition, my agent (David Bauman) has been in constant contact with Mitch Kupchak. I made my decision after I had lunch today with Dr. (Jerry) Buss, and I realized what a great organization I’m joining. I'm very, very excited to be a Laker. I look forward to helping the Lakers defend their championship, and it will be great to finally not get booed in the Staples Center."

The Rockets had not pursued Artest, first chasing Orlando Magic center Marcin Gortat and then Ariza. Gortat on Thursday was close to an agreement to accept an offer sheet with the Dallas Mavericks, though Orlando would have a chance to match the mid-level offer.

Artest averaged 17.1 points on 40.1 percent shooting, 5.2 rebounds and 3.3 assists last season, and had several exchanges with future Lakers teammate Kobe Bryant in the teams’ second-round series and in a regular-season meeting in Toyota Center.

Though the Rockets had placed their free agent emphasis elsewhere, his departure marked the latest step in a dramatic transformation of the Rockets.

Less than a year after they had hoped putting Artest, Tracy McGrady and Yao Ming together would make them championship contenders, the Rockets will likely start the regular-season without any of them, as Yao weighs surgical options to repair his fractured left foot and McGrady works on his comeback attempt from microfracture surgery.

Ariza, however, represents a younger, blossoming prospect and key step toward rebuilding. After several jolts of bad news, he already offered the Rockets a much-needed shot of free agent recruiting success.